Speeches

Speech by H.E. Valdas Adamkus, President of the Republic of Lithuania, at Helsinki business forum

Today we are speaking about the development of bilateral economic cooperation, which I believe could be even more intensive and more beneficial to the businesses and consumers of our two countries. Finland and Lithuania have many things in common: both countries are members of the EU single market and both belong to the Baltic Sea region - one of the fastest growing European regions in the past decade and I would also say one of the most promising regions in the world. Both countries are interested in advancing the integration of energy and transport infrastructures of the Nordic and Baltic countries, which would allow connecting the two still separated infrastructural areas together.

As we see all this, we can firmly state that the current period of economic slowdown, which has already started to affect both the Baltic States and the Nordic countries, is the best time to restructure, adjust and also, I would like to underline this point, accelerate our actions. I believe that in the future investors from Finland and other Nordic countries will view Lithuania and the other Baltic States as the best natural markets for their investment, while Lithuanian companies will sell more of their production in Finland and Scandinavia. We have excellent examples of maintaining such business ties in banking, technologies, environmental protection, and other areas.

I would like to make a particular emphasis on the importance of our cooperation in the energy sector. As I have already mentioned, the connection of the electricity systems of the Baltic States and the Nordic countries into a single smoothly operating market which is not restrained by competition limitations is, in my viewpoint, the axis of Lithuania's and other Baltic countries' energy strategy. We already have a link in place between Estonia and Finland and there are plans to build a second link. However, the projected connection between the Baltic States and Sweden is no less important. I am deeply convinced that when the Baltic Energy Market Interconnection Plan, proposed by the European Commission, is implemented and all infrastructural and administrative restrictions for the operation of our common electricity market are lifted, we will make a major step towards creating the best conditions for free consumer choice and energy security.

Finland and Lithuania are linked by their understanding of the importance of nuclear power in our respective countries. Tomorrow, I will visit the nuclear power plant which is constructed in Finland. Your experience is greatly valuable for us because, as you may already know, we are planning to join efforts with our regional neighbors and build a new reactor after the Ignalina nuclear power plant is decommissioned at the end of this year.

I firmly believe that you will be resolute in meeting new challenges, creative in seeking new paths of corporate cooperation, united in searching for new performance and management possibilities, all of which would be modern and effective in today's rapidly changing world and markets. I wish the best of success to this forum and I also wish that your business endeavors and projects strengthen the bonds between Lithuania and Finland and their people.

Thank you for your attention.

Valdas Adamkus
President of the Republic of Lithuania